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Show and discuss the three regions or stages of production . In addition, indicate the POINT OF INFLECTION in the TPP and the superimposed APP,

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Show and discuss the three regions or stages of production . In addition, indicate the POINT OF INFLECTION in the TPP and the superimposed APP, and MPP curves. What is the significance of the POINT OF INFLECTION in the TPP curve? Discuss exhaustivelyTotal Physical Product, Average Physical Product, and Marginal Physical Product per Input 50 40 30 Marginal Physical Product Total Physical Product, Average Physical Product, 20 10 5 10 15 20 25 -10 Input -Total Physical Product Average Physical Product -- Marginal Physical ProductProduction Economics : Theory and application Given the following hypothetical data on input ( x) and total Physical Product (TPP) of XYZ corporation. Input ( X ) Total Average Marginal Physical Physical Physical Product Product Product (TPP ) (APP ) (MPP ) 0 O O NO 3 3 14 3.5 4 24 4 32 4 4 38 3.8 3 12 42 3.5 2 14 44 3.14 44 2.75 O 18 42 2. 33 -1 20 30 1.5 - 6

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